They will never move on as long as guys like you talk like this, Celtic FC put Lennon in charge to bring the pub fan back to to club and play the victim's role for the last 2 year's and by all accounts it worked but it will now dwindle away and the so called fans will stop going to the games and go back to the pubs to watch "their team" great times for Scottish football and all the wee teams will flurish while the Celtic will struggle to cope and we will see major cut backs within the team and the backroom staff.
Rangers
- Thread starter Doon frae Troon
- Start date
- Status
Val
Ryder Cup Winner
StuartD
Tour Rookie
Sorry for not getting back sooner. I was out watching The Rangers Football Club,est 1873, the most succesful club in scotish football play in a lesser competition after severe punishments had been handed out to them
I'll put the rod down
Rangers PLC were still in Administration on the 10th of July well after the sale to green. The credidtors report produced by the administrators on this date states in section 5.1
"The corporate entity which remains under the control of the Joint Administrators i.e. the Company, will be placed into CVL once all outstanding issues have been attended to. It is likely to be several weeks before this occurs".
and it states in Section 14.1
"The next report will be a formal progress report and will be issued following the six month anniversary of the Appointment Date or sooner depending upon when the Company is placed into CVL. "
A CVL is a creditors voluntry liquidation. Quite why it takes so long i have no idea. As I have had nothing further from D&P I can only assume the company is still in admin . You are right that HMRC have appointented liquidators (BDO). The will probably look at the pre CVA deal to sell assets to Green on a CVA failure first. I can't see how it was in the best interests of the Creditors especially now as other bidders have stepped forward. They will also look at the transaction between Murray and Whyte which is of most interest to Rangers fans. Court action on these two individuals also cannot be ruled out
Val
Ryder Cup Winner
So is it or is not the case they are or are in the process of being liquidated?
StuartD
Tour Rookie
Liquidation starts with a CVL and the BDO will move in. That has not yet happened, so they are still in Administration.
Anything to say on Chucks statement Stuart??
I am genuinely interested on your thoughts??
Surely a tactic to get Season Books sold?
Either way he should be charged for bringing the game into disrepute,if he isn't then the SFA will appear to be quite happy to back bigotry.....
I am genuinely interested on your thoughts??
Surely a tactic to get Season Books sold?
Either way he should be charged for bringing the game into disrepute,if he isn't then the SFA will appear to be quite happy to back bigotry.....
If that's the case then will you be starting the season on minus points?
Val
Ryder Cup Winner
So why are they playing as a newco?
StuartD
Tour Rookie
Christ i hope not after today :whoo:
We Will not start on minus points as the Football club is not under control of a company in administration (yet:mmm
Greens statement - Bigotry no chance
I agree with him that decisions have not made business sense, but fans don't look at it from a business perspective.
Christ i hope not after today :whoo:
We Will not start on minus points as the Football club is not under control of a company in administration (yet:mmm
Greens statement - Bigotry no chance
I agree with him that decisions have not made business sense, but fans don't look at it from a business perspective.
Nope,the fans have looked at it from an integrity sense and I for one am happy with this outlook.
Watched a bit of it today and by christ it was grim.
Val
Ryder Cup Winner
Stuart, this is the bit Im struggling to see, so please fill me in with things im missing.
Rangers FC (est 1873) are not in liquidation yet but are in administration and are in the process of a CVL.
The Rangers FC (est 2012) are a newco who now play in the SFL despite the fact they are a newco with no history of trading and have been airdropped into Scottish football.
The Rangers (2012) wish to be tied to Rangers (1873) to maintain the history and to continue to grow the history but wish to do this without penalty despite the fact the have left a carnage of debt across Europe, are in the final stages of a FTT with HMRC which could see a further £50m+ (im being kind here) added to this carnage of debt. It has also been identified that there is a case to answer on the illegal registration of players due to dual contracts undisclosed to the SPL.
Tell me this, why on earth would any club wish to keep carrying the baggage? The club should shut the door on 1873 and start from scratch with nothing, a clean slate.
PS - Well done on the giant killing act yesterday :thup:
Rangers FC (est 1873) are not in liquidation yet but are in administration and are in the process of a CVL.
The Rangers FC (est 2012) are a newco who now play in the SFL despite the fact they are a newco with no history of trading and have been airdropped into Scottish football.
The Rangers (2012) wish to be tied to Rangers (1873) to maintain the history and to continue to grow the history but wish to do this without penalty despite the fact the have left a carnage of debt across Europe, are in the final stages of a FTT with HMRC which could see a further £50m+ (im being kind here) added to this carnage of debt. It has also been identified that there is a case to answer on the illegal registration of players due to dual contracts undisclosed to the SPL.
Tell me this, why on earth would any club wish to keep carrying the baggage? The club should shut the door on 1873 and start from scratch with nothing, a clean slate.
PS - Well done on the giant killing act yesterday :thup:
StuartD
Tour Rookie
First it is necessary to differentiate between a corporate plc and football club It is summed up in the court notes here raised when the court action was taken regarding the transfer ban
http://www.scotcourts.gov.uk/opinions/2012CSOH 95.html
It states "the Rangers Football Club plc, a company presently in administration. That company presently operates Rangers Football Club"
Rangers PLC (est 1899) are in administration and awaiting CVL. The Football club (Rangers FC est 1873) and all its assets were bought by Sevco and therfore no longer in administration
The Rangers FC Ltd (to give its full name) technically does not yet exist. This is the name Sevco ( a new company set up in 2012) want to take on. To take this name on certain guidelines regarding the name have to be met. One of these is similarity to other company names. This is one of the last actions of the administrators who have organised on a vote to change Rangers PLC name to RFC2012 Ltd. This should clear the main hurdle but the renaming of Sevco could still be refused. Rangers Football club (est 1873) are now in the SFL and are operated by Sevco.
This is why the football debt and sanctions must be retained as it is the same football club. As it is a new corporate company the corporate debt has been left with the PLC in administration.
If Sevco applied to get registered as a new club, they would have had to supply accounts. The rules don't say that the accounts have to be football related. The only way Green could could have applied as a new club was to have bought a business with 3 years of audited acounts.
Airdrie Utd was a similar newco take over. The parent company also did not have any audited accounts and used Clydebanks accounts when they took over Clydebank Football Club. However they also took over the Corporate PLC and honoured the corporate debt. That is why they were not put in the bottom tier.
Any time a club walks away from Corporate debt whether it is done via a CVA or Newco should be demoted to the bottom tier in my opinion as it allows a near clean slate (only football debt retained). This is what should be in the rules and it would be clear for all. My only slight concern with this is if a club went into admin when not getting payment from a sponsor (ie the sponsor going bust) this scenario is much different from the deliberate non payment of taxes by Craig Whyte
http://www.scotcourts.gov.uk/opinions/2012CSOH 95.html
It states "the Rangers Football Club plc, a company presently in administration. That company presently operates Rangers Football Club"
Rangers PLC (est 1899) are in administration and awaiting CVL. The Football club (Rangers FC est 1873) and all its assets were bought by Sevco and therfore no longer in administration
The Rangers FC Ltd (to give its full name) technically does not yet exist. This is the name Sevco ( a new company set up in 2012) want to take on. To take this name on certain guidelines regarding the name have to be met. One of these is similarity to other company names. This is one of the last actions of the administrators who have organised on a vote to change Rangers PLC name to RFC2012 Ltd. This should clear the main hurdle but the renaming of Sevco could still be refused. Rangers Football club (est 1873) are now in the SFL and are operated by Sevco.
This is why the football debt and sanctions must be retained as it is the same football club. As it is a new corporate company the corporate debt has been left with the PLC in administration.
If Sevco applied to get registered as a new club, they would have had to supply accounts. The rules don't say that the accounts have to be football related. The only way Green could could have applied as a new club was to have bought a business with 3 years of audited acounts.
Airdrie Utd was a similar newco take over. The parent company also did not have any audited accounts and used Clydebanks accounts when they took over Clydebank Football Club. However they also took over the Corporate PLC and honoured the corporate debt. That is why they were not put in the bottom tier.
Any time a club walks away from Corporate debt whether it is done via a CVA or Newco should be demoted to the bottom tier in my opinion as it allows a near clean slate (only football debt retained). This is what should be in the rules and it would be clear for all. My only slight concern with this is if a club went into admin when not getting payment from a sponsor (ie the sponsor going bust) this scenario is much different from the deliberate non payment of taxes by Craig Whyte
chris661
Money List Winner
Was the club (1873) not incorporated into a company (1899)
wrighty1874
Journeyman Pro
Bomber, your nose is growing as I write!!!!
Your a nasty man Nick, I have always been a supporter of Stenhousemuir........
Stenny are your big team then and Sevco your diddy club?:rofl:
PMSL :rofl:
Doon frae Troon
Ryder Cup Winner
My golfing buddie who is a Rangers fan [oh how I have enjoyed this summers games!] Is going back to his real roots and supporting Ayr United again. I wonder how many glory hunters will do the same thing.
Taken from a blog I read today..........
So today Sevco Scotland have changed their name to The Rangers Football Club Limited.
An extraordinary general meeting of shareholders took place at Ibrox to vote on the new name, well it's not a new name, well it is and it isn't a new name.
I've said that a few times over the summer!
So Charles Green never hid the fact that the company that was basically running The Rangers was called Sevco 5088.
But who are really behind Sevco 5088.
In my blog; http://thedemiseofrangersinpictures.blogspot.co.uk/2012/06/pictures-from-around-ibrox-stadium.html I explained how the money was being siphoned back to Ticketus through a network of different companies all associated with one and other and that the intricacy of the web would confuse some people.
Well i tried my best to describe it in lay mans terms and I'll try do the same with this.
How the money is being drip fed into Ibrox to keep it alive.
Sevco 5088 Limited are registered at,
35 Vine Street
London
EC3N 2AA
This is the address of Law firm, Field Fisher Waterhouse (FFW).
Now it is known that Charles Green instructed FFW to conduct the CVA negotiations which ultimately failed to be approved.
Sevco 5088 are still registered at the above address.
http://companycheck.co.uk/company/08011390
Now if we take a closer look at FFW. They are Legal advisers to a company called Access Intelligence.
Access Intelligence major shareholder is Octopus, the company that own Ticketus.
http://www.accessintelligence.com/aimrule26.php
http://tools.morningstar.co.uk/uk/s...ntFund=0&BaseCurrencyId=GBP&InvestmentType=E0
People have been asking "where are they getting the money from?" Quite simply, Octopus. (Ticketus)
Remembering that Octopus own a very large part of Access Intelligence who's advisers are Field Fisher Waterhouse who Charles Green employed to negotiate the CVA this would highly suggest that this is the money 'in' route.
Also remembering that Octopus are major shareholder in Zeus who have two guys (Brian Stockbridge and Imran Ahmed) on the board, it reiterates that Octopus have more legs under the table than a lot of people think.:mmm:
:lol:
So today Sevco Scotland have changed their name to The Rangers Football Club Limited.
An extraordinary general meeting of shareholders took place at Ibrox to vote on the new name, well it's not a new name, well it is and it isn't a new name.
I've said that a few times over the summer!
So Charles Green never hid the fact that the company that was basically running The Rangers was called Sevco 5088.
But who are really behind Sevco 5088.
In my blog; http://thedemiseofrangersinpictures.blogspot.co.uk/2012/06/pictures-from-around-ibrox-stadium.html I explained how the money was being siphoned back to Ticketus through a network of different companies all associated with one and other and that the intricacy of the web would confuse some people.
Well i tried my best to describe it in lay mans terms and I'll try do the same with this.
How the money is being drip fed into Ibrox to keep it alive.
Sevco 5088 Limited are registered at,
35 Vine Street
London
EC3N 2AA
This is the address of Law firm, Field Fisher Waterhouse (FFW).
Now it is known that Charles Green instructed FFW to conduct the CVA negotiations which ultimately failed to be approved.
Sevco 5088 are still registered at the above address.
http://companycheck.co.uk/company/08011390
Now if we take a closer look at FFW. They are Legal advisers to a company called Access Intelligence.
Access Intelligence major shareholder is Octopus, the company that own Ticketus.
http://www.accessintelligence.com/aimrule26.php
http://tools.morningstar.co.uk/uk/s...ntFund=0&BaseCurrencyId=GBP&InvestmentType=E0
People have been asking "where are they getting the money from?" Quite simply, Octopus. (Ticketus)
Remembering that Octopus own a very large part of Access Intelligence who's advisers are Field Fisher Waterhouse who Charles Green employed to negotiate the CVA this would highly suggest that this is the money 'in' route.
Also remembering that Octopus are major shareholder in Zeus who have two guys (Brian Stockbridge and Imran Ahmed) on the board, it reiterates that Octopus have more legs under the table than a lot of people think.:mmm:
:lol:
StuartD
Tour Rookie
It is a reasonable assumption to make that a plc and football club is the same thing. They are so intertwined it is difficult to establish the difference
Looking at the football rulebooks it specifically separates them out. The UEFA rulebook has been updated and there are now specific rules about “A football club†taking on “New Corporate Identityâ€.
At a corporate/business level HMRC’s statement after they rejected the CVA offer read as below
"A liquidation provides the best opportunity to protect taxpayers, by allowing the potential investigation and pursuit of possible claims against those responsible for the company's financial affairs in recent years.
A CVA would restrict the scope of such action. Moreover the liquidation route does not prejudice the proposed sale of the club.
"This sale can take place either through a CVA or a liquidation therefore the sale is not being underminedâ€
This statement shows that there is clear separation between the Club and the plc.
If we were to take the PLC and the football club as one there would be a heck of a lot of new football clubs out there. Many new owners move the football clubs into one of their companies and let the old company name die. This would have to be seen as a new club as it is a new company.
Looking at an example close to home in Celtic. Celtic set up a PLC in 1897 (yes they done it first like 9 in a row) in The Celtic Football And Athletic Company Limitedâ€. Its name was changed to Celtic PLC in 1994 (still same company number so in essence the same company) It ran the football club until Feb 02 when “aspects of its trade†was transferred to "Celtic F.C. Limited, a company set up in 2001. Celtic FC Limited accounts states that "Celtic F.C. Limited has the main activity of which is the operation of a professional football club" Note the word operation
Therefore the football club was transferred to another company in 2002.
If the original PLC setup in 1897 incorporated the club and was the club like has been claimed with Rangers, then the new company Celtic FC ltd would have to be a new club. Would I claim that Celtic was a new club in 2002? Not a chance. They are still entitled to have that little gold star, go on about 1967, they all were from within 30 miles of the ground blah blah blah.
Wait…………claiming it’s a new club is a great idea!!!!!!:whoo:
- Status
Similar threads
